Manitou Investment Management Ltd. lessened its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 435,603 shares of the financial services provider’s stock after selling 11,358 shares during the quarter. Brookfield Asset Management comprises 5.6% of Manitou Investment Management Ltd.’s portfolio, making the stock its 8th biggest holding. Manitou Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $23,140,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BAM. Westfield Capital Management Co. LP bought a new stake in Brookfield Asset Management during the 2nd quarter valued at approximately $75,425,000. Syquant Capital Sas bought a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $58,170,000. National Pension Service bought a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $62,289,000. JPMorgan Chase & Co. increased its stake in Brookfield Asset Management by 46.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,477,346 shares of the financial services provider’s stock worth $118,096,000 after acquiring an additional 783,794 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Brookfield Asset Management by 783.4% in the 2nd quarter. Renaissance Technologies LLC now owns 792,375 shares of the financial services provider’s stock worth $37,906,000 after acquiring an additional 702,675 shares during the last quarter. 58.04% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. TD Securities lifted their price objective on Brookfield Asset Management from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Citigroup lifted their price objective on Brookfield Asset Management from $56.00 to $62.50 and gave the stock a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity set a $62.00 price objective on Brookfield Asset Management and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Brookfield Asset Management has an average rating of “Buy” and an average target price of $59.92.
Shares of Brookfield Asset Management stock traded down $0.18 on Friday, reaching $56.38. The company had a trading volume of 902,924 shares, compared to its average volume of 1,494,184. The firm has a market cap of $59.27 billion, a price-to-earnings ratio of 19.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.87. The firm’s 50-day moving average price is $53.59 and its two-hundred day moving average price is $50.15. Brookfield Asset Management Inc has a 1 year low of $36.58 and a 1 year high of $56.86.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.25. The firm had revenue of $16.92 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Brookfield Asset Management had a return on equity of 3.31% and a net margin of 4.86%. The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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